Daily Forecast – Share Market – February 20th, 2024

Nifty may try for 22200 | Market may try to form a base around 22000

Moon with Rahu leads the day, well supported by Mars, Mercury, Venus and Jupiter. Importantly Sun is supporting own house, impacts may be seen on related segments (support). Although lord of karma is combust, we should not ignore our Karmas, work etc. Lagna lord is in the house of religion, Judiciary – indicates some important Judiciary decisions may give some impact in coming days.

Market is again showing emotional movements and wave before lunch hour. We may see that Nifty may settle down after lunch. Trade accordingly. Possibly Nifty may look for 22200 and hold the levels above 22000. Even then stop-loss for 21900 will be better for the safe side.

Global scenario for the economic aspects – watch Japan and China categorically in coming period. Crude oil may maintain in between 80-85 USD.

Little bit of profit bookings may give trimming on upper levels. Remember, Nifty has achieved these levels, without support from Banks Nifty or IT sector (they are main players of our market), if these two players will give proper support – market may show further great runup. That means chances of buying for long on proper dips.

Midcaps and small caps may also remain supportive for the market. Trade with positive intentions. Rahu may show sudden movements. After Lunch hours changes possible.

Indian Currency

Indian Rupee may trade in between 82.60 to 83.30 per USD.

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** Before investing or trading please check technical aspects also, it’s a reading based on planetary movements.